The Indian biopharmaceutical market will be worth US$2 billion by 2010 and could generate one million Indian jobs. Vaccines, therapeutics, antibiotics, anti-infectives, and diagnostics dominate the market. Local companies are significant players, many evolving their product portfolio from chemicals to pharmaceutical to biotechnology models. The pharmaceutical market is dominated by generics and is low-cost and volume driven. A number of international companies also have a significant presence, particularly in the production of vaccines and API markets, such as GlaxoSmithKline and Eli Lilly. The government is supportive of science and technology through tax incentives and nonprotectionist policies. However, healthcare spending, as a proportion of GDP, is low compared to other countries. The biopharmaceutical market is growing rapidly, fueled by a fast-growing economy, large population, intellectual property-supportive regime, and burgeoning private healthcare sector.
About the Authors:
Merlin H. Goldman, Ph.D., MBA, CEng, MIChemE
Merlin Goldman has a doctorate in Biochemical Engineering from University College London and a MBA from the University of Edinburgh. He recently completed courses in project management, intellectual property, and contract law. He has worked for PPL Therapeutics, Serologicals (now Millipore) and Wyeth in various project leadership and technical roles. Currently he provides consultancy services for SMEs as well writing for a number of commercial publications.